Bill 114: Bloomfield Act

This bill most directly affects property owners, developers, and real estate investors in Nova Scotia who hold vacant residential properties or undeveloped land zoned for residential use within municipal boundaries. If your business model involves land banking — sitting on serviced lots or empty units while waiting for the right time to build or sell — you could face an additional annual tax on the assessed value of those properties. Smaller landlords with a vacant unit between tenants, as well as larger developers holding multiple undeveloped parcels, would both need to track vacancy status carefully and understand their municipality's specific by-law definitions and exemptions. The practical day-to-day impact includes keeping records to demonstrate occupancy or development activity and potentially participating in audits or disputes under whatever process the municipality establishes.